Slam Raises $350,000 in Flow-Through Private Placement, Resignation of a Director and Appointment of a New Director and Appointment of Vice President

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MIRAMICHI, NB / ACCESS Newswire / June 12, 2025 / SLAM Exploration Ltd. (TSXV:SXL) ("SLAM" or the "Company") announces closing of its non-brokered flow-through private placement announced May 21, 2025 and May 26, 2025. In connection with the private placement, the Company has issued 10,000,000 Flow Through Units ("FT Units") at a price of $0.035 per FT Unit for gross proceeds of $350,000 (the "Offering"). Each FT Unit will be comprised of one common share of the Company issued on a "flow-through" basis (the "FT Shares") and one-half common share purchase warrant (with two such half common share purchase warrants being each a "Warrant") issued on a "non-flow-through" basis. Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.05 for a period of 24 months from the date of closing.

The FT Units are subject to a four-month and one day hold period that expires on October 13, 2025.

The net proceeds of the Offering will be used for the exploration and advancement of the Company's projects in New Brunswick. The gross proceeds of the FT Shares sold under the Offering will be used for Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)) which qualify as a "flow-through mining expenditure" for purposes of the Income Tax Act (Canada) related to the exploration program of the Company to be conducted on the Company's properties located in the Province of New Brunswick.

Insider Participation: Four Company insiders participated in the Private Placement and subscribed for a total of 3,792,858 FT Units. The participation by such insiders is a "related-party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the placement as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).